Spain has been reviewing their regions’ online gambling draft, and last week, the said bill was handed down to their cabinet members for further review. As been expected, the bill was criticized for its proposed tax scheme. The Remote Gambling Association suggested that their online gambling market should be changed into a more profitable and useful gross tax scheme. This is because the said associations’ perspective about Spain’s tax scheme is different from what Spain does, which the association disagreed. And so, without further arguments, Spain complies with RGA’s recommendations.
Specific tax rate is still unknown, but gambling authorities in Spain hopes for the country to follow British leads. While operators in France are not pleased as they pay high taxes in the said region, Spain, nearing to its gambling legislation in their jurisdiction, operators might shy away from high taxes in France, and place their base of operation in the said region.
The online gambling legislation in Spain will be handed down to parliament, and then to Senate after the cabinet has finished reviewing the said legislation. With online gambling authorities hoping for it to be passed as soon as possible, the said bill will only take effect at the end of 2011. As many other European countries are revising their online gambling laws, they expect that at the end of 2012, Europe’s largest online gambling market will be totally diversified. Every one knows that the European Union wants every country under their jurisdiction to participate in free trade as their industry changes over time. In the near future, EU believes that this major changes will definitely help their own economical growth and advancement.
As Europe emerges in the online gambling industry, they are rapidly recuperating from global recession that hit almost every country in the globe. And as the said industry emerges too, it became an integral part in boosting economical growth of a country.